Please Sign The Attached Petition Changing The Governance Structure of TMVOA and Putting Control in the Hands Of The Residents
All signatures will remain confidential
Dear TMVOA Board of Directors:
We homeowners of Mountain Village want to ensure that Telluride Mountain Village Owner’s Association (TMVOA) fixes its governance structure, complies with state and federal laws and most importantly realigns its voting structure to fairly and equitably represent the residents of Mountain Village. The current documents were written in 1984, when no homeowners existed in Mountain Village, just the developer of the ski area and the ski mountain operator giving Telski control over our Owners Association. The documents are severely outdated. They fail to recognize the significance of residential ownership of a substantial portion of Mountain Village real estate. They fail to comply with state and federal laws that stakeholders in organizations like TMVOA rely on to protect and enhance their property value.
We believe that the governance documents of TMVOA must create a governance structure that achieves the following goals:
1. Give homeowners the majority voting control of the Board of TMVOA. Homeowners contribute 90% of the revenue of TMVOA but only have 29% of the vote. Currently Telski has voting control of the Board of TMVOA. It is only fair that homeowner’s control TMVOA!
2. Make sure that the $50 million of cash and investments owned by TMVOA goes to the benefit of Mountain Village. Telski must not be allowed to control this money and use it to enhance its for profit interests by continuing to control TMVOA or inappropriately influencing board members and employees of TMVOA but minimally contributing to TMVOA.
3. Establish clear governance standards of conflict of interest and independence to ensure that Telski cannot directly or indirectly exert control over TMVOA or any TMVOA board member or employee. For example, the current TMVOA lawyer is the husband of Telski ‘schief legal counsel.
4. Ensure the tax- exempt status of TMVOA is maintained. A not- for-profit entity like TMVOA must be controlled by independent board members to be tax exempt. Currently, Telski a for profit company controls a majority of the board members, holds the chairman of the board position at TMVOA and has certain veto rights over major decision.
5. Ensure compliance with Colorado state law. Currently, the governance documents and procedures of TMVOA do not comply with state law in such critical areas as the definition of a member, voting process, assessment procedures and amendment procedures to the governing documents.
We expect the Board of TMVOA to achieve these five objectives when they amend the TMVOA documents.
Thank you
Concerned Homeowners of Mountain Village